Marsh Broker Niki Tsalikis Recognized as a 2019 Pharmaceutical Power Broker
Niki Tsalikis, Senior Vice President, Marsh
Given the recent media coverage of the opioid crisis, the CFO of a pharmaceutical company with a sizeable opioid portfolio was concerned about the firm’s 2018 product liability insurance renewal. He was expecting a significant premium increase, as well as coverage limitation.
As part of the regular process, Niki Tsalikis and her team had a pre-renewal strategy meeting with the client a few months in advance of the renewal deadline.
As part of the discussion, the client explained how the company’s portfolio was different in terms of dosage form and its purpose — the opioids were being used as medication-assisted treatment in addiction clinics. Moreover, the client had a clean claim history.
Tsalikis suggested informing carriers of this differentiation would be valuable in the renewal discussions. The client prepared and gave a great presentation to potential carriers during the marketing of the program.
The result was outstanding: Not only did the client have multiple carriers to choose from, they but also achieved a 42 percent reduction compared to existing premium — significant for a company of its size — as well as improved coverage.
“We’ve had an excellent partnership with Niki,” said the client.
Tsalikis has been handling life science accounts — pharmaceuticals, biotechnology firms and medical device manufacturers — for nearly three decades. She learns by immersing herself in each company’s business — including reading the client’s 10K or 20F.
What is a Power Broker?
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by Risk Managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.